{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{8}{c}}
\toprule
                &\multicolumn{1}{c}{\shortstack{Stock\\recovery\\duration}}&\multicolumn{1}{c}{\shortstack{Agree:\\Recovery\\many yrs.}}&\multicolumn{1}{c}{\shortstack{Agree:\\Set back\\many yrs.}}&\multicolumn{1}{c}{\shortstack{Agree:\\Recover\\2020}}&\multicolumn{1}{c}{\shortstack{Stock\\return:\\Mean}}&\multicolumn{1}{c}{\shortstack{Stock\\return:\\SD}}&\multicolumn{1}{c}{\shortstack{Stock \\ return \\ <-30\%}}&\multicolumn{1}{c}{\shortstack{Stock \\ return \\ >30\%}}\\\cmidrule(lr){2-2}\cmidrule(lr){3-3}\cmidrule(lr){4-4}\cmidrule(lr){5-5}\cmidrule(lr){6-6}\cmidrule(lr){7-7}\cmidrule(lr){8-8}\cmidrule(lr){9-9}
                &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}\\
\midrule
{\bf Panel A: Fin Crisis}&         &         &         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Prior recovery duration&0.245\sym{***}&0.049\sym{***}&0.048\sym{***}&-0.017\sym{*}&   -0.153&    0.101&    0.153&   -0.159\\
Fin. Crisis 2007&  (0.029)&  (0.009)&  (0.009)&  (0.010)&  (0.169)&  (0.094)&  (0.231)&  (0.252)\\
                &         &         &         &         &         &         &         &         \\
Observations    &     1050&     1050&     1050&     1050&     1050&     1050&     1050&     1050\\
                &         &         &         &         &         &         &         &         \\
\hline {\bf Panel B: Dot-com}&         &         &         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Prior recovery duration&0.225\sym{***}&0.032\sym{***}&0.031\sym{***}&   -0.010&    0.159&0.135\sym{*}&    0.010&    0.355\\
Dot-com 2000    &  (0.025)&  (0.008)&  (0.008)&  (0.008)&  (0.153)&  (0.076)&  (0.196)&  (0.228)\\
                &         &         &         &         &         &         &         &         \\
Observations    &     1063&     1063&     1063&     1063&     1063&     1063&     1063&     1063\\
                &         &         &         &         &         &         &         &         \\
\hline {\bf Panel C: Black Monday}&         &         &         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Prior recovery duration&0.313\sym{***}&0.058\sym{***}&0.051\sym{***}&-0.034\sym{***}&-0.409\sym{***}&0.229\sym{***}&0.541\sym{***}&   -0.217\\
Black Monday 1987&  (0.026)&  (0.007)&  (0.008)&  (0.008)&  (0.153)&  (0.073)&  (0.201)&  (0.228)\\
                &         &         &         &         &         &         &         &         \\
Observations    &     1058&     1058&     1058&     1058&     1058&     1058&     1058&     1058\\
                &         &         &         &         &         &         &         &         \\
\hline Individual controls&      Yes&      Yes&      Yes&      Yes&      Yes&      Yes&      Yes&      Yes\\
\bottomrule
\end{tabular}
}
